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E campaign for high value transactions, Income Tax

Issue Id: - 118316
Dated: 6-1-2023
By:- Rajesh Kumar
E campaign for high value transactions

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I got a e campaign email from income tax department through an email to verify high value transactions. I had around 60 lakhs in credit card transactions reported due to money rotation between credit cards using rent pay feature to transfer money to my own accounts. I am worried that I might be in trouble for this. Can someone please help with advise on this? Will I get a income tax notice and penalties for this ?

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1 Dated: 9-1-2023
By:- Padmanathan Kollengode

It might be required to check further facts and details such as the source of fund, what what the fund from your account utilized for, etc. Therefore, it is advisable to consult a professional for help and provide them with full facts.


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